Henry Geraedts
Financial Post, Jan. 13, 2022
“In the United States, meanwhile, the Biden Administration’s radical climate promises encountered reality checks throughout 2021.”
Two months after the dreadful sham of COP26, Western governments are still in denial about what actually happened: Net Zero’s magical thinking met unyielding global energy realities and it lost, leaving the Paris Accord’s climate ambitions withering on the vine.
Ignore hyperbole and meaningless pledges and decode instead: India’s “Net Zero-sure-but-only-in-2070,” the deliberate, glaring absence of key political leaders, China’s dictating the closing communiqué’s impotent “phase down.” Glasgow’s message is unequivocal: governments representing a majority of the world’s population put Western “climate leaders” on notice that the sustained use of hydrocarbon energy, which is indispensable for economic prosperity and political stability, is no longer up for discussion. Climate adaptation, not mitigation, is the new direction of travel, with the developing economies leading the way.
Henry Geraedts worked in venture capital internationally for some 30 years, including in CEO and board capacities.
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